MINNEAPOLIS, July 13, 2014 /CNW/ - Reliance Resources Limited
(TSXV: RI) ("Reliance") or ("the Company") is pleased to announce
the resumption of trading of its stock at the open of the market on
July 14, 2014.
The Company previously announced a five for one consolidation of
its common shares. The Company has filed the necessary
application and forms with the TSX Venture Exchange for the
consolidation, which is awaiting final approval by the TSX Venture
Exchange.
In the interim, trading will be on a pre-consolidated basis
pending the approval of the Company's application.
On behalf of the Board of Directors of Reliance
George S. Young
Chairman, CEO and Director
Neither the TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release.
Forward-Looking Information
This news release contains "forward-looking
information" and "forward-looking statements" (collectively,
"forward-looking information") within the meaning of applicable
securities laws. Forward-looking information is generally
identifiable by use of the words "believes," "may," "plans,"
"will," "anticipates," "intends," "could", "estimates", "expects",
"forecasts", "projects" and similar expressions, and the negative
of such expressions. Forward-looking information in this news
release include statements about the proposed Transaction, proposed
management restructuring, American Iron's proposed acquisition of
its Mineral Properties and the Company's future plans, objectives
and business strategy.
In connection with the forward-looking information contained
in this news release, the Company has made numerous assumptions,
regarding, among other things, the assumption that the parties will
complete the principal conditions for completion of the
Transaction, including but not limited to the Company's completion
of the Financing and acquisition of the Mineral Properties;
the receipt of necessary shareholder and regulatory approvals; and
the assumption the Company will continue as a going concern and
will continue to be able to access the capital required to advance
its projects and continue operations. While the Company
considers these assumptions to be reasonable, these assumptions are
inherently subject to significant uncertainties and
contingencies. In addition, there are known and unknown risk
factors which could cause the Company's actual results, performance
or achievements to be materially different from any future results,
performance or achievements expressed or implied by the
forward-looking information contained herein. Known risk
factors include, among others: the inability of American Iron to
acquire the Mineral Properties; the possibility that the Financing
will not be completed; and the possibility that the Company may not
be able to continue as a going concern in the near term.
All forward-looking information herein is qualified in its
entirety by this cautionary statement, and the Company disclaims
any obligation to revise or update any such forward-looking
information or to publicly announce the result of any revisions to
any of the forward-looking information contained herein to reflect
future results, events or developments, except as required by
law.
SOURCE Reliance Resources Ltd.